This blog will go on for months to come to weed out Corporate misconducts as a service to the taxpayers and Malaysians in general.

Say No To Hudud

Saturday, February 11, 2012

Paul Boorman has to put a STOP to this ongoing PwC fraud : Raymond Hoh See Lee signs affidavit without lawful authority

The trial in the Kuala Lumpur High Court has been postponed until the middle of March, 2012. The Honourable Judge has allowed time for the Plaintiffs' to go through the suppressed and concealed documents which have been brought to light.

Raymond Hoh See Lee is an Executive Director with PwC Malaysia (1st Defendant), and is a former employee of PwC Consulting Malaysia (2nd Defendant). He was an employee with PwC Consulting until the consulting company was sold off to IBM as part of the global sale.

"PricewaterhouseCoopers Malaysia, together with all the other offices of PwC worldwide were supposed to allow IBM Corp to acquire their Consulting Business, as part of a global acquisition by IBM Corp of the Consulting and Technology arm of PwC in 2003.

According to thelettersent to the SEC in The United States as well the Article of Non Oppositionissued by the EEC in Europe, there was no way for the Consulting arm of PricewaterhouseCoopers in Malaysia to remain exempt from the sale. And the consulting arm of PwC Malaysia was and still is PricewaterhouseCoopers Consulting Sdn Bhd (464379-U), which till today remains under the ownership and control of the MD of PwC Malaysia, Chin Kwai Fatt; the Executive Chairman, Johan Raslan and other Senior Partners of PwC Malaysia.

But what happened in Malaysia is an interesting sleight of hand, where a company called PricewaterhouseCoopers Consulting (East Asia) Sdn Bhd, was renamed as PwC Consulting Malaysia Sdn Bhd (289801-A) on 20-11-2001, to be sold off to IBM Corp as the 'legitimate' Consulting arm of PwC in Malaysia.

This was done to defraud the creditors of PricewaterhouseCoopers Consulting Sdn Bhd (464379-U), as there was no way to allow IBM Corp to acquire this company without disclosing the hundreds of millions of Ringgit worth of contingent liabilities PricewaterhouseCoopers Consulting Sdn Bhd (464379-U) was hiding.

Chin Kwai Fatt and Johan Raslan, together with their co-conspirators also use a tainted Auditor to audit the books of PricewaterhouseCoopers Consulting Sdn Bhd (464379-U), to keep the contingent liabilities out of sight."

Today, Raymond Hoh See Lee is neither a shareholder, director or employee of PricewaterhouseCoopers Consulting, and yet he goes on to sign an affidavit without lawful authority for PwC Malaysia.

The only reason he has done so is because Khoo Chuan Keat has chickened out from signing any further affidavits for PwC Malaysia, similarly, Johan Raslan has also chickened out of signing any further affidavits, so we have another Senior Partner stepping in to sign affidavits.

Mr Paul Boorman, Global Leader - Operations for PricewaterhouseCoopers. When are you going to put a STOP to the ongoing fraud by PwC Malaysia?

This report by The Malaysian Insider, which says," It also said that Datuk Johan Raslan, executive chairman of PricewaterhouseCoopers, has repeatedly turned down the offer to head the watchdog agency.", is innacurate. The real reason Johan Raslan did not take up the SC top job, is because back in July 2011, he had signed an affidavit objecting to the discovery application by the plaintiffs'. And Johan Raslan very well knew about the conceled documents when he signed the affidavit, including of emails between PwC partners which clearly state an outright intention to cheat clients. Although Johan Raslan was not involved in the assignemnt that led to the lawsuit, his role in the active suppression of documents has led to his not being able to take up the SC job.

Johan Raslan, why dont you invite #idris jala, # johan merican, #scinzel, for a drink and share the concealed documents with them? Your company is going through a crisis and you act like nothing is wrong.